Paying your mortgage every two weeks instead of monthly could save you tons of money in interest and shave years off your mortgage. However, if your lender offers a payment plan for doing this, you should probably skip it and set it up yourself. Here’s why.

Last week, an obscure but potentially internet-transforming document was leaked from the U.S. Federal Communications Commission. It revealed that government regulators are considering rules that would give big companies a chance to make their online services run faster than smaller ones.

Personally, the thing I like least about it is that it’s easy to see how small/new companies could get screwed and stifle innovation. The other thing that I had not though of until I read this is I trust the cable companies so little that I wouldn’t be surprised if they started “bundling” sites like they do with TV. I don’t need 100 channels! Of course, this is why I don’t have cable TV. Finally, the other thing you should be upset about is the cable companies “double dipping”. They’re already charging insane prices (because usually they have a monopoly in most areas other then major metros), and now they’re also going to start extorting the companies too – what, you didn’t think they’d actually lower your rates when they started charging the companies did you?… Comcrap-Warner wants it’s cake and to eat it too (see the video below – warning: language).

Every time I hear stories like this it makes me worry for my kids. While I can be a competitive person there’s always been a release valve buried somewhere deep inside that has been able to say “the work will be there tomorrow” or (when I was in school) “Being first in class doesn’t matter. Just learn the material well enough. There’s always time to dig deeper.”

The question is, how to pass that on while still instilling the discipline and joy of hard work and sacrifice?

With tax season behind us, here’s a little PSA to remind you why a big refund isn’t actually all that great even if it may feel that way. I just need to remind myself of this every time I have to write checks to Uncle Sam 🙂

After the furnace, the most important appliance in your home is probably the refrigerator. It’s also one of the most expensive ones. When you spend $1,000 or more on an item, you want it to last for many years.

Mental Accounting – Treating some money as more special than other money based on subjective criteria, such as how it will be spent or where it came from.

The “Anchoring” Effect – Estimating the value of something based on irrelevant information (e.g., the “anchor”), such as the price you paid for it, the cost of something else you own, or what someone told you it was worth.

Status Quo Bias – Preferring things you know over the things you don’t know, even if other options are superior.

Restraint Bias – Overestimating our ability to resist temptation.

Ownership Effect – Placing a higher value on the things you own, because you own them.

Familiarity Bias – Gravitating toward products and investments that you know over unknown options, which may be better.

While some of them may be pretty similar I’m sure we all have a tendency to fall into one of the traps from time to time. For me, it’s probably “Restraint Bias” – especially once I’ve gotten an idea in my head that I want something. How about you? What’s your biggest trap?